Bearish Backlash Drives Oil Prices Down

As Hurricane Irma approaches Florida, oil prices have fallen again while the WTI/Brent spread has grown wider. (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge) (Click to enlarge)Friday, September 8, 2017 Oil prices collapsed again on Friday as China aims to reduce the capacity of its teapot refineries and Hurricane Irma zeros in on Florida. This dramatic drop in oil prices has ended several days of strong gains and created the largest spread between WTI and Brent in two years.…